On May 23, 2024, Gildan Activewear Inc. announced that the full Board of Directors has resigned, and Vince Tyra has stepped down as President and Chief Executive Officer, effective at the end of the day. The Company stated that the outgoing Board has appointed Browning West nominees to the Board of Directors, effective at that time. The outgoing Board has ceased discussions regarding the previously announced sale process.

The Company stated that its shareholders have made their views clear as the Company approach the May 28, 2024, annual meeting. The outgoing directors expressed its view that it was in the best interests of all the Company stakeholders for them to resign and not stand for election at the upcoming annual meeting, allowing the new Board to be seated so that it can oversee the Company in the most orderly and efficient manner. The outgoing directors stated that they wish the new directors, the management team, the Company?s 45,000 employees, and its shareholders success in the future.